Biolog-id
- Industry
- Healthcare IT
- Founded Year
- 2005
- Headquarters
- 12 Rue Cambacrs, Paris, France
- Employee Count
- 97
Key People
- Jean-Claude Mongrenier - Founder and Chairman of the Board
- Amit Mayer - Chief Information Officer and Vice President Innovation and Analytics
- Cory Bergeron - Director Strategic Partnerships
- Deepak Singh - Managing Director & Country Manager
- Armand LEGER - Business Systems Manager - North America & APAC
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with a strong background in MedTech and healthcare IT.
The presence of multiple successful MedTech entrepreneurs in the leadership team indicates a high level of expertise and a proven track record in the industry, which is crucial for navigating the complexities of the healthcare IT market.
- Clinical Need
-
Aspect: Very Strong
Summary: Biolog-id addresses a critical need for enhanced traceability and management of sensitive healthcare products.
The management and traceability of sensitive healthcare products like blood components and chemotherapy injectables are vital for patient safety and regulatory compliance. Biolog-id's solutions directly address these needs, making them highly relevant in the current healthcare landscape.
- Competition
-
Aspect: Somewhat crowded
Summary: The market has several players offering similar traceability solutions for healthcare products.
The presence of multiple competitors in the healthcare traceability solutions market indicates a somewhat crowded space. However, Biolog-id's focus on RFID technology and its specific applications may provide a competitive edge.
- Technical Challenge
-
Aspect: Predictable
Summary: The technical challenges associated with implementing RFID-based traceability solutions are well-understood and manageable.
RFID technology has been widely adopted across various industries, and its application in healthcare for product traceability is well-documented. This predictability in technical implementation reduces the risk of project delays and cost overruns.
- Patent
-
Aspect: Strong
Summary: Biolog-id has developed patented solutions for the management and traceability of sensitive healthcare products.
Holding patents in the field of healthcare product traceability strengthens Biolog-id's market position by protecting its innovations and potentially limiting competitors' ability to offer similar solutions.
- Financing
-
Aspect: Well-funded
Summary: Biolog-id has secured significant funding to support its operations and growth.
With total funding of $86.9M, Biolog-id has the necessary resources to invest in product development, market expansion, and operational scaling, which are critical for achieving long-term success in the competitive healthcare IT market.
- Regulatory
-
Aspect: 510k/PMA
Summary: Biolog-id's solutions are subject to regulatory approvals, including 510(k) and PMA processes.
Compliance with regulatory standards such as 510(k) and PMA is crucial for healthcare products. Biolog-id's ability to meet these requirements ensures the safety and efficacy of its solutions, facilitating their acceptance by healthcare providers and institutions.
Opportunity Rollup
- Odds of Success
- 3.7
- Peak Market Share
- 4.7
- Segment CAGR
- 5.9%
- Market Segment
- Healthcare IT
- Market Sub Segment
- RFID-based Traceability Solutions
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.70 |
| 3 | 1.64 |
| 4 | 3.29 |
| 5 | 4.70 |
Key Takeaway
Biolog-id is well-positioned in the growing healthcare IT market, offering essential RFID-based traceability solutions that address critical clinical needs, supported by a strong team and substantial funding.